Stock Market & Financial Investment News

SINA slips from initial session highs, levels to watchThe shares traded to a high of $71.19 this morning after news that Weibo, a majority-owned subsidiary, filed preliminary prospectus for an IPO in the United States. Shares have since slipped from the high, which is now resistance, last at $68.77. At that price next support is at $67.50.

SINA calls active as shares move off lows on renewed takeover speculationSINA March 33 and 34 weekly calls are active on 6K contracts (1K puts) amid renewed takeover speculation. March weekly call option implied volatility is at 48, April is at 30, May is at 33; compared to its 26-week average of 37 according to Track Data. Active call volume suggests traders taking positions for large price movement.